Will the recession’s diminished wealth lead to fewer marriages for money? Maybe for a while, but we doubt the concept of gold digging will die.
And we bet that the women described below forced to stay in loveless marriages because they couldn’t get the big payouts they wanted will divorce their husbands as soon as their net worth rebounds.
WSJ’s Wealth Report blog: The question now is what happens when the world of finance retreats? Do mercenary marriages unravel or become closer?
High-end divorce attorneys I talk to say they are seeing far fewer divorces now that the wealthy have less wealth. The reason is simple: neither the wife nor husband feel like they can afford to divorce. “If a couple’s wealth has dropped by 30%, the wife or husband would get that much less if they split,” Bill Zabel, a prominent New York attorney told me a few weeks ago.
Another scenario is that more money-infused marriages will collapse because the wife or husband who was in it for the money now has less of it…
The more likely impact is that mercenary marriages freeze for a while until things pick up.
Business Insider Emails & Alerts
Site highlights each day to your inbox.